If you’re looking to enhance your trading game, the Bollinger Bands® Box indicator for MetaTrader 5 is a fantastic tool to have in your arsenal. It visually represents the latest closed values of the Bollinger Bands using colored rectangles and a filled background, making it easier for you to spot trading opportunities.
Key Features of the Bollinger Bands Box Indicator
- Customizable Settings: You can adjust various parameters to fit your trading style.
- Visual Clarity: The colored boxes help you quickly identify market conditions.
- Timeframe Flexibility: Works on different timeframes, allowing you to trade according to your strategy.
//+----------------------------------------------+//| Indicator input parameters |//+----------------------------------------------+inputstring SirName="BollingerBands_Box"; //Object nameinputENUM_TIMEFRAMES Timeframe=PERIOD_D1; //Indicator timeframe for calculating the indicatorinputuint NumberofBar=1; //Bar number to calculate the indicatorinputuint BBPeriod=20 //Midline calculation periodinputdouble StdDeviation=2.0001 //Number of deviationsinputENUM_APPLIED_PRICE applied_price=PRICE_CLOSE;//Price typeinputint Shift=0 //Horizontal shift of indicator in barsinputbool ShowPrice=true; //show price labelsinputcolor Upper_color=clrLimeGreen; //Upper price label colorinputcolor Middle_color=clrSlateGray //Middle price label colorinputcolor Lower_color=clrRed //Lower price label colorinputuint BarsTotal=30 //number of bars of rectanglesinputuint RightTail=5 //shifting the rectangles beyond the zeroth bar to the right in the current chart barsinputcolor Color_Res=C'157,255,255' //Color of the upper boxinputcolor Color_Sup=C'255,176,255' //Color of the lower box//+----------------------------------------------+
Fig. 1. Indicator BollingerBands_Box
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